Liam Smith · Version 1.1 · 5 October 2026
Coverage: five supplied VTT transcripts, Project Finance and Control, v8.0, and three supplied module reviews. This index records provenance, navigation and material corrections. It supports the complete guide, quick review and 64-question practice set.
Source conventions
- Workbook pages are PDF-viewer pages, counting the cover as page 1, not the lecturer's printed-page references. The PDF has 247 pages. Embedded references to a PMBOK page belong to that cited work, not this PDF.
- Lecture timestamps are relative recording positions. They can exceed the two-hour mark and start several minutes into a file.
- Consecutive cues with the same speaker were joined into stable numbered segments. A segment can contain a long uninterrupted explanation or a break; its time range is a navigation aid, not a claim that every sentence concerns one topic.
- Source references attached to a paragraph or table identify the supporting material. Checked arithmetic and explicitly authored examples are editorial additions; a source for a method does not mean the instructor gave every new example number.
- Student discussion is used only as illustration with the instructor's response considered. Disputed or unendorsed student claims are not treated as course rules.
- The guide is an original synthesis. It does not reproduce the full workbook or slides. Original inputs remain with the user; the ZIP includes normalized transcripts and source identification for checking citations.
Session coverage
| Session | Cues | Speaker segments | Words | Available recording span |
|---|---|---|---|---|
| 2026-09-16 | 1,186 | 190 | 14,119 | 00:09:44.500–03:05:05.510 |
| 2026-09-21 | 1,023 | 232 | 13,210 | 00:03:47.450–03:30:48.420 |
| 2026-09-23 | 1,195 | 235 | 13,518 | 00:04:28.230–03:29:51.890 |
| 2026-09-28 | 1,158 | 160 | 13,599 | 00:07:08.330–03:05:15.190 |
| 2026-09-30 | 1,187 | 135 | 14,034 | 00:03:47.850–02:44:57.640 |
All five transcripts were read in full. All workbook pages were reviewed as extracted text, including its bibliography, glossary and solutions; image-based formulas and scenario diagrams received visual checks where relevant. The normalized transcripts preserve speaker names, timestamps and source cue IDs. Automatic transcripts can still contain misheard wording; explicit corrections and workbook checks are identified below.
Lecture navigation
| Topic | Recording reference |
|---|---|
| Roles, debt/equity and costs | (Sep 16, 00:16:24–01:03:52; segments 20–74.) |
| Strategic versus financial objectives | (Sep 16, 01:06:04–01:28:32; segments 90–106.) |
| WACC and capital charges | (Sep 16, 01:17:11–01:48:53; segments 106–134.) |
| Time value and discounting | (Sep 16, 02:02:15–02:08:04; segments 143–149.) |
| Formula emphasis | (Sep 16, 02:08:11–02:09:04; segments 153–159.) |
| CBA and financial management plan | (Sep 16, 02:18:35–03:05:02; segments 181–187.) |
| ROM and numeric control factors | (Sep 21, 01:03:56–01:11:38; segments 65–106.) |
| Activity costing and contingency duplication | (Sep 21, 01:13:49–01:56:51; segments 128–150.) |
| Estimating techniques and cost of quality | (Sep 21, 02:00:31–03:00:51; segments 173–203.) |
| Budget aggregation and time phasing | (Sep 21, 03:02:54–03:13:33; segment 215.) |
| Reserve recap | (Sep 23, 00:08:07–00:09:37; segments 21–31.) |
| Widget EVM and six formulas | (Sep 23, 00:10:35–01:10:22; segments 41–89.) |
| Expected versus earned value | (Sep 23, 01:13:50–01:22:00; segments 90–97.) |
| Graphs and performance interpretation | (Sep 23, 01:22:07–02:21:21; segments 99–131.) |
| Six status scenarios | (Sep 23, 02:11:32–03:29:49; segments 131–233.) |
| Factors, thresholds and multiple levels | (Sep 28, 00:18:09–01:16:58; segments 37–77.) |
| Change principles and workflow | (Sep 28, 01:17:29–01:55:16; segments 81–87.) |
| Execute/monitor/control and requirements | (Sep 28, 01:55:39–02:18:10; segments 89–99.) |
| Trade-off scenarios | (Sep 28, 02:19:37–03:05:09; segments 107–157.) |
| Buyer, seller, SOW and make/buy | (Sep 30, 00:06:49–00:29:18; segments 5–41.) |
| Contract types and risk | (Sep 30, 00:29:47–01:14:52; segments 47–65.) |
| Class examples and percentage-contract clarification | (Sep 30, 01:14:57–01:45:49; segments 68–92.) |
| Documents, bidder conferences, selection and BATNA | (Sep 30, 01:20:42–02:10:38; segments 92–96.) |
| Negotiation discussion | (Sep 30, 02:29:07–02:44:49; segments 103–129.) |
| Procurement control and closure | (Sep 30, 02:33:18–02:44:49; segment 129.) |
Workbook map
| Section | Prose / introductory material | Slides / application |
|---|---|---|
| Introduction | 7–16 | Within introduction |
| Module 2: finance overview | 17–30 | 31–52 |
| Module 3: financial baseline | 53–65 | 66–86 |
| Module 4: financial control | 87–94 | 95–124 |
| Module 5: establishing control | 125–135 | 137–148; p. 136 blank |
| Module 6: controlling project | 149–153 | 155–166; p. 154 blank |
| Appendix A: procurement | 167–176 | 177–198 |
| Appendix B: exercises | 199–222 | Includes embedded scenario images |
| Appendix C: bibliography | 223–226 | Historical cited readings |
| Appendix D: glossary | 227–236 | Definitions |
| Appendix E: sample solutions | 237–247 | CBA, garden shed, trade-offs |
Useful self-tests: Module 2 p. 52; Module 3 p. 86; Module 4 p. 123; Module 5 p. 147; Module 6 p. 165; procurement p. 197. Use the corrected guide when a slide answer conflicts with its inputs.
Exercise crosswalk
| Topic | Appendix B exercise | Other useful location |
|---|---|---|
| Cost-management best practices | 1, p. 199 | Introductory lecture discussion |
| Project-selection CBA | 2, pp. 200–203 | Solutions pp. 238–240 |
| Project charter, WBS and two cost controls | 3, p. 204 | Garden-shed sample pp. 241–242 |
| Activity cost estimate | 4, p. 205 | Siding sample p. 243 |
| Residual-risk contingency | 5, p. 206 | Garden-shed reserve p. 244 |
| Project cost baseline | 6, p. 207 | Daily/cumulative budget p. 245 |
| Six status scenarios | 7, pp. 208–214 | Slides pp. 116–122 |
| Multi-category, multi-level controls | 8, p. 215 | Slide p. 142; sample p. 246 mislabeled 12 |
| Two trade-off scenarios | 9, pp. 216–220 | Slides pp. 161–164; sample p. 247 labeled 13 |
| Contract-type examples | 10, p. 221 | Slide p. 187 |
| Negotiation practices/lessons | 11, p. 222 | Slide p. 193 |
The numbering varies between Appendix B, slides, sample solutions and spoken directions. Navigate by topic and PDF page, not exercise number alone. The overview sentence on p. 208 says stakeholder analysis, but the actual directions and scenarios concern status interpretation.
Corrections and qualifications
| Issue | Evidence | Treatment in the package |
|---|---|---|
| WACC called ROI in discussion | September 16, segments 106–116 | Label as capital cost/required return; actual ROI is distinct. |
| Refinery WACC rounded early | PDF pp. 45–47 | Exact results 6.96% and 8.52%; charges $6.96m and $8.52m on $100m. |
| Principal plus capital charge labeled NPV | PDF pp. 46–47; September 16, 130–134 | Not an NPV calculation. Explain separately. |
| PV versus NPV confusion | PDF pp. 29 and 48–49; September 16, 143–149 | Correct NPV formula includes initial outflow. $110k discounted at 10% has PV $100k; with $100k invested, NPV is zero. |
| Refinery $93.3m labeled NPV | PDF p. 49 | It is discounted future inflows; true NPV after $100m investment is −$6.735537m. |
| Separate capital charge in CBA alongside discounted benefits | PDF pp. 50, 238–240 | Preserve sample totals as stipulated illustrations; flag potential overlapping cost treatment. |
| School ratio called return/profit per dollar | PDF p. 240; September 16, 184–187 | Benefit/cost=3.45; net benefit/cost=2.45; distinguish local funding from full resource cost. |
| Estimate class versus technique | PDF pp. 76–77; September 21 | ROM ranges and PERT describe different properties. |
| Rounding and unspecified cost column | PDF pp. 75, 82; September 21, 128–138 | Patio/CBS entries can show small rounded-total discrepancies; no invented COM definition or reconstruction of missing bases. |
| Contingency potentially duplicated | September 21, 143–150 | Separate reserves clearly and count each allowance once. |
| Historical reserve range mismatch | PDF prose p. 63 vs slide p. 79 | 8–20% and 8–15% are conflicting examples, not mandatory rules. |
| Expected/earned confusion | September 23, 56–97; glossary p. 229 | Label risk expected value and EVM earned value explicitly. |
| EV assumed equal to spending | September 23, 56–79 | EV uses authorized budget; AC uses actual cost information. |
| Percentage interpretation | September 23, 63–89 | Specify denominators; 1−CPI is not the overrun relative to EV; 1−SPI is not the forecast duration extension. |
| Practice 5 wrong SPI denominator | PDF p. 105, visually checked | EV65/PV50 gives SPI1.30, not 65/40=1.63. RTD76.92 weeks, not 61.3. EAC69.23m with exact CPI. |
| Practice 6 premature CPI rounding | PDF p. 106 | Exact EAC122.22m; rounded CPI gives a different approximate answer. |
| Historical CPI “point of no return” claim | PDF pp. 92, 114 | Treat as workbook caution, not a universal recovery prohibition or mandatory threshold. |
| Spending plan substituted for EVM | PDF p. 213; September 23, 204–217 | AC145k−plan143k=$2k, 1.40% above plan; EV absent, so no CPI/SPI. |
| Ambiguous unfinished activity in graph | PDF p. 214; September 23, 219–227 | Require finish/progress and critical-path information; no invented exact index. |
| “Levels” interpreted as severity tiers | September 28, 44–59 | Controls at activity, deliverable, milestone and phase levels. |
| Percent vs percentage points | September 28, 37 and 74–77 | Label tolerance units; 40%±5 points is 35–45%. |
| Five headings versus “eight” change principles | PDF pp. 132, 144; September 28, 85 | Preserve the workbook grouping: five headings with configuration, grouped releases and feature freeze inside the system heading. |
| Deferred versus escalated change | PDF pp. 144–145; September 28, 87 | Defer postpones; escalation refers for authority. |
| Milestone month misstatement | PDF pp. 152, 158, visually checked; September 28, 97 | Planned June 30, actual July 8; 8 calendar days late. |
| Internal substitute duration conflict | PDF p. 162 vs p. 218 | Slide says 50% longer; appendix/lecture says 100% longer. Identify assumption. |
| Trade-off sample loose rounding | PDF p. 247 | $50k/$750k=6.67%; 1/8.5=11.76%. Priorities and business consequences still drive choice. |
| UAT removal as quick recovery | PDF pp. 219–220, 247; September 28, 130–157 | Reconfirm priorities/current needs; retain essential validation and analyze feasible recovery. |
| Fixed price treated as unlimited unchanged obligation | September 30, 49 | Seller bears more overrun risk for agreed scope; changes and adjustment clauses still matter. |
| T&M “all buyer risk/no seller risk” | PDF p. 185 vs September 30, 59 | Comparative risk and actual terms; fixed rates, variable quantities, oversight and ceiling. |
| CPFF/CPIF costs assumed automatically reimbursable | September 30, 59 | Specify allowable costs and agreement limits; no guarantee that every incurred cost is paid. |
| CPAF as a design winner's prize | PDF p. 185; September 30, 59 | Clarify evaluated performance award; not just payment for winning a competition. |
| Incentives described only as early-finish bonuses | PDF pp. 172, 185–186 | Keep examples as illustrations; federal incentive forms include negotiated target/formula structures. |
| Federal ban overgeneralized to cost reimbursement | September 30, 82–89 | CPPC prohibition does not ban all other reimbursement forms. |
| Oral-contract enforceability oversimplified | September 30, 42–47 | Avoid universal claim; law/agreement determine enforceability, written records remain procurement practice. |
| SOW treated as a complete contract | September 30, 35 | May be a contract component, not automatically all legal/commercial terms. |
| RFQ treated as necessarily pre-IFB | September 30, 96 | A possible use, not a universal sequence. |
| RFP paired universally with cost reimbursement | PDF p. 188 | Course association, not a mandatory pairing. |
| Highest score implies automatic selection or arbitrary rejection | PDF p. 191; September 30, 96 | Follow disclosed criteria, documented judgment and governing rules; no silent post hoc criteria changes. |
| BATNA described as bargaining flexibility | September 30, 96 vs PDF p. 192 | Best alternative to a negotiated agreement: outside option if no deal. |
| Avoid all open-ended questions | September 30, 103–113 | Contextual sales discussion, not a general negotiation rule. |
Supplied module-review documents
Most of the new reviews repeat existing coverage. They add targeted recall aids and four worked cases rather than new course modules. The practice set is now 64 questions: 60 original and four adapted from the Module 3 review.
| Review | Guide location | Added or clarified |
|---|---|---|
| Finance M1 M2 Review MASTER.docx | §§2–5 | Five benefits/three costs of cost management; five-step CBA recall; simple ROI definition |
| Finance M3 Review MASTER.docx | §§6–9; practice 61–64 | $100,000 estimate ranges; gym frequency; headquarters $15.9m reserve; three-risk $54,000 reserve |
| Finance M4 Review MASTER.docx | §§10–13 | Correct EVM answers; existing forecasting assumptions retained |
Review references use original Word body-block positions, counting blank paragraphs, rather than page numbers. module-review-manifest.json supplies filenames/hashes; module-review-extracts/ permits exact paragraph lookup. Original DOCX files are not duplicated.
Review discrepancies
| Source | Issue | Correct treatment |
|---|---|---|
| M4, blocks 20–22 | Performed budget labeled PV; incurred cost labeled EV; scheduled budget labeled BAC | EV, AC and PV respectively; BAC is the completion budget |
| M4, block 29 | EAC = EAC / AC | EAC = BAC / CPI under the course's continuing-efficiency assumption |
| M3, block 5 | Expected Value Management (EVM) | Earned Value Management; risk expected value is separate |
| M3, block 17 | Missing minus sign on budgetary lower bound | −10% / +25% as in its later summary and workbook p. 77 |
| M3, block 18 | Definitive estimate described with “Actuals” | A mature estimate remains a forecast; actual costs record incurred amounts |
| M1/M2, NPV passage | Incomplete expression | Retain the discounted net cash-flow definition in §4 |
(Module review: Finance M4 Review MASTER.docx, body blocks 20–22, 29.) (Module review: Finance M3 Review MASTER.docx, body blocks 5, 17–18, 38–40.) (Module review: Finance M1 M2 Review MASTER.docx, body blocks 141–145.)
The exercise solutions were recomputed from their own inputs. The headquarters reserve is $15.9m, not the older refinery's $7.95m; the new three-risk reserve is $54,000, not the older example's $27,000. (Module review: Finance M3 Review MASTER.docx, body blocks 50–81.)
The explicit ROI definition is a simple undiscounted net-benefit/cost convention, supported by PMI: Measuring project management ROI. It does not replace NPV or WACC. See PMA-Module-Review-Comparison.md for the cross-course comparison and Markdown/PDF formatting decisions.
Supplementary verification sources
The workbook, lectures and supplied reviews are the course sources. The references below clarify specific ambiguities; they do not replace the course with a new syllabus. The original supplementary references were checked 2 October 2026; the additional PMI ROI reference was checked 5 October 2026.
| Clarification | Authoritative reference |
|---|---|
| Excel NPV timing and initial outflow | Microsoft Support: NPV function |
| Simple ROI as net benefit divided by cost | PMI: Measuring project management ROI |
| Cost-plus-percentage prohibition | FAR 16.102(c) |
| Fixed fee rather than fixed total price | FAR 16.306 |
| Fixed-price incentive structure | FAR 16.403-1 |
| Cost-plus incentive structure | FAR 16.405-1 |
| Award-fee evaluation | FAR 16.401(e); 16.405-2 |
| T&M rates, supervision and ceiling | FAR 16.601 |
| BATNA definition | Harvard Program on Negotiation |
| Oral agreements and writing requirements | Cornell LII: oral contract |
Scope boundaries
The course material is fully covered at the concept level, including workbook-only FP-EPA and self-test BATNA. Repetitive administrative remarks, class breaks, software-lifecycle assertions and anecdotes about organizations are not turned into study facts. Informal certification question counts, passing-score guesses, test-center arrangements and claimed pass rates are excluded as current exam guidance. The package does not claim to cover every current PMP or CAPM exam objective.
The two course trade-off cases contain limited facts. Recommendations retain those limits instead of inventing staff capacity, actual finish dates, missing EV, contract powers or stakeholder consent. Author-created numerical examples are clearly labeled in the guide and practice set.
Reproducibility
| Source | SHA-256 |
|---|---|
| GMT20260916-225128_Recording.transcript.vtt | 3c4175f2cb658fc7e4cdb013eabc09d7ef27768b8a53676938a246e49e29eb50 |
| GMT20260921-225657_Recording.transcript.vtt | c79a9a0a1b4e7d95d4d7724b1a08197f71dff2094bbc5978459119df75d31530 |
| GMT20260923-225725_Recording.transcript.vtt | 2ed7c97629e0bed98cfd919f903ddb6d1c44c406c5ab2746ef8cc87b84f7dcbe |
| GMT20260928-225339_Recording.transcript.vtt | ceb9e44461134209833eecfbd0996d44586695ecef3927970c04d8c6f92eb7f0 |
| GMT20260930-225709_Recording.transcript.vtt | 972c8620786602a796e0209fcc3a6b4468bcb9eeee3eb8a6db1c1946f455b117 |
| PMA - Project Finance and Control V8 (1).pdf | e1073736e973e46a6cf6b619b7397af5002c3465c8eb3b45683028eee8acc7b8 |
The ZIP contains the four study documents plus the module-review comparison, normalized TXT/JSON transcripts for all five sessions, source manifests, a citation ledger, review paragraph extracts and a validation report. The source ledger records file identity, SHA-256, selected segment/cue IDs and timestamp spans or review body-block locators. The workbook manifest identifies its version and PDF page convention. Calculations were checked independently from the written answers, and source references were validated against the supplied sources.